Ealixir Inc (EAXR)

[SkinFlint]

The answer is YES. It happened before the reverse merger with Flint. Apparently it did not help that company survive or keep the stock price from sinking lower and lower.

Semotus Announces One-For-Twenty Reverse Stock Split
Reverse Stock Split Questions & Answers

LOS GATOS, July 10, 2007 (PRIME NEWSWIRE) -- Semotus Solutions, Inc. , an innovative leader of software solutions for enterprise mobility, today announced that its Board of Directors has approved a one-for-twenty reverse split of its common stock. The reverse split will become effective as of 5:00 p.m. Eastern Time on July 20, 2007.

At Semotus' annual meeting on September 21, 2006, shareholders approved a proposal to authorize the Board, in its discretion, to effect a reverse split of Semotus' issued, outstanding and authorized common stock at a ratio ranging from one-for-ten to one-for-twenty, at any time prior to the fiscal 2007 annual meeting, without further action by shareholders.

The purpose of the reverse split is to increase the per share trading price of Semotus' common stock, thereby appealing to a broader range of investors; to the extent that the reverse split does succeed in attracting more investor interest in the stock, shareholders may also benefit from improved marketability and trading liquidity of the stock. Additionally, the American Stock Exchange (Amex) determined that it will require us to effect a reverse stock split of our common stock as part of our compliance plan, to address our low selling price and to work towards meeting the continued Amex listing standards.

Upon the effectiveness of the reverse stock split, Semotus shareholders will receive one new share of Semotus common stock for every twenty shares they hold. Semotus' common stock will begin trading on a split-adjusted basis when the market opens on July 23, 2007.

In connection with the reverse split, the total number of common shares authorized under Semotus' Amended Articles of Incorporation will be reduced from 150 million to 7.5 million shares. As of the end of Semotus' fiscal year 2007, there were approximately 35.5 million shares of Semotus' common stock outstanding. Effecting the 1-for-20 reverse split will reduce that total to approximately 1.8 million shares. The reverse split will not change the number of shares of Semotus preferred stock authorized, which will remain at 5 million.